Trade Bank of Iraq Joins Thompson Reuters
Many have speculated that this week, even today, could be the day for an announcement of the dinar revaluation. Once again, so far it’s quiet. However, do not lose heart. As I’ve mentioned before, and what we all know, is that it definitely will happen, it’s just a matter of when.
The progress achieved in Iraq, just in the last several months, coupled with the recent publicity around the dinar as an investment is very encouraging. As always, I will be monitoring this and keeping you as informed as I can.
Below is good news about the Trade Bank of Iraq posted in comments under “Dinar RV Update” by a fellow reader/investor. I thought I’d also post it here as well for those who may miss it there.
Nov. 25, 2009 (Hugin AS) —
Trade Bank of Iraq- first bank (OTCBB:FRBA) in Iraq to join Thomson Reuters (NYSE:TRI) (TSX:TRI) global
foreign exchange trading service
Baghdad & Dubai, 25 November, 2009 – Thomson Reuters today announced
the Trade Bank of Iraq (TBI) will be the first bank in Iraq to
connect to the international foreign exchange (FX) community using
Thomson Reuters Dealing trading service. This deal reinforces
Thomson Reuters strong position in the FX dealing space and further
expands its global dealing community.
TBI, a state-owned bank, was established in July 2003 to facilitate
Iraq’s international trade and the reconstruction of the country
after the expiration of the UN Oil-For-Food Programme. TBI has built
relationships with a network of 120 banks covering 63 cities in 39
countries. It was one of the first Iraqi banks to receive lines of
credit from major international financial institutions.
By joining the professional international FX community through
Thomson Reuters Dealing, TBI will be able to access liquidity and
counterparties across global FX and money markets.
TBI traders will also use Reuters 3000 Xtra, the company’s real-time,
high-performance desktop that delivers a full range of real-time,
cross asset data and analysis tools for global financial
professionals. The Bank’s dealing code will be TBIB.
Zaid A. Mahdi, Vice-President, Business Development at Trade Bank of
Iraq, said, “This connection to the international foreign exchange
community via the world’s leading source of intelligent business
information is a milestone for Iraq and for the Bank.
“The deal means that TBI will be able to widen the range of financial
services it provides to help Iraqi businesses to trade
internationally and grow. It is further evidence that business in
Iraq is gradually returning to the international financial markets.”
Jas Singh, Global Head of Treasury, Thomson Reuters, said, “Thomson
Reuters has maintained a strong presence in Iraq over the last 10
years and we are delighted to support the development of its
financial markets by equipping TBI with the right tools and
information to trade with the wider world. We look forward to working
with them to open further opportunities as their banking systems
develop”.
Thomson Reuters Dealing is used by nearly 18,000 professionals across
5,000 organisations to trade FX spot and forwards, as well as money
market, fixed income, commodities and derivatives in over 120
countries.
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent
information for businesses and professionals. We combine industry
expertise with innovative technology to deliver critical information
to leading decision makers in the financial, legal, tax and
accounting, healthcare and science and media markets, powered by the
world’s most trusted news organization. With headquarters in New
York and major operations in London and Eagan, Minnesota, Thomson
Reuters employs more than 50,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto Stock
Exchange and New York Stock Exchange. For more information, go to
http://www.thomsonreuters.com
About Trade Bank of Iraq
TBI, a state-owned bank, was established in July 2003 to facilitate
Iraq’s international trade and the reconstruction of the country
after the expiration of the UN Oil-For-Food Programme. TBI has built
relationships with a network of 120 banks covering 63 cities in 39
countries. It was one of the first Iraqi banks to receive lines of
credit from major international financial institutions. For more
information, go to http://www.tbiraq.com.
CONTACTS
Thomson Reuters Trade Bank of Iraq
Yvonne Diaz Taiseer Mohammed
PR Director, Financial Services Senior Manager, International
+44 20 7542 2615 Operations Department
yvonne.diaz@thomsonreuters.com +96 479 0194 3584
taiseer.alhairi@tbiraq.com
Candice Sgroi
PR Manager, Middle East & Africa
+971566818021
candice.sgroi@thomsonreuters.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
http://hugin.info/142273/R/1357013/329971.pdf
(Source: iStockAnalyst )
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Tags: Business, Central bank, chapter 7, currency, Dinar, dinar revaluation, dinarinfo.net, Economics & Investing, Financial market, Financial Services, IMF, International Monetary Fund, Iraq, Iraqi dinar, Iraqi dinar revaluation, Kuwait, New York Stock Exchange, Thomson Reuters, Trade Bank of Iraq, United States dollar, World Bank
November 25th, 2009 at 5:49 pm
This truly is outstanding news and a step closer to the goals of our interest!
November 25th, 2009 at 6:01 pm
Does this mean that the Iraqi Dinar is now able to be exchanged on the open market.
November 25th, 2009 at 6:42 pm
Doc , I don’t think it has anything to do with the dinar at least not yet
November 25th, 2009 at 10:06 pm
HAPPY THANKSGIVING!!!!!!
November 26th, 2009 at 12:00 am
http://www.youtube.com/watch?v=AgL8qqjOnlg&feature=related
November 26th, 2009 at 12:20 am
http://www.youtube.com/watch?v=-f1cwycSWq0&feature=related
November 26th, 2009 at 4:07 am
I read That IMF gave Iraq until this Friday Nov.26 to RV. Or is this just another sales gimmick.
November 26th, 2009 at 5:49 am
Well we din’t wakeup rich agian!!
I have an Idea, We need to get Obama involved, He could use a few more billion. LOL
November 26th, 2009 at 7:16 am
Happy ThanksGiving…..
November 26th, 2009 at 11:30 am
Happy Thanksgiving everyone
November 27th, 2009 at 12:55 pm
Nice.I like the new look.
November 27th, 2009 at 1:14 pm
Thanks Joe.
November 28th, 2009 at 3:10 pm
i still need to frnd a bank in the south east that will buy dinar.
November 28th, 2009 at 3:36 pm
Jerry , where are you ?
Are you wanting to sell now?
November 29th, 2009 at 7:00 am
BB&T will do the exchange. If you just want to sell?? how close to Alabama are you?
November 29th, 2009 at 12:20 pm
Mercantile Bank will too.
November 30th, 2009 at 5:57 am
i live about 15 miles from the state line in the center of the state. what does bb&t stand for, ane where is mercantile bank?
November 30th, 2009 at 10:33 am
no i am not ready to sell, just when it happens. i live about 15 miles from the ms. al state line
December 1st, 2009 at 12:08 pm
Does anyone really know what’s going on?
December 1st, 2009 at 1:41 pm
Debbie:
I don’t think ANYONE really knows what’s going on. It’s all speculation and one day…maybe the dinar will revalue and be of some worth? Hope sooner than later.
December 4th, 2009 at 1:59 pm
I am looking in to buying Dinars, I have felt pressured to do so from family that is insisting that its going to RV soon and that an $1100 dollar order from Dinartrade.com will bring $2.470.000 in return, I am not dumb enough to believe that it will RV that high and more than double the US dollar. In fact I am looking here to see when you all bought your Dinars and how much hype was placed months if not years ago when you all bought. I have been trying to find any banks in Utah that will buy them, and haven’t been able to get a hold of the US treasury to see if they will be buying. Any info would help. Thanks
January 13th, 2010 at 12:42 am
thanks for the information .i am not aware of this issue please keep updating looking forward for more information.
January 29th, 2010 at 5:37 am
i thought that this wouldn’t happen for a long time.
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